Car Broker

[Caleb R 0]

Hi,

Any help, advice or opinion would b much appreciated. 

I have recently brought my previous career to an end, and have moved into small scale property development. With this comes long voids of no income and I feel something alongside this would be beneficial both financially and also something else to keep me busy.

I would be interested in the brokering of cars on a small scale, individual cars for buyers. Building a network with dealerships, finding the dealership offering the best deals at any given time and then advertising through social media/website.

Would I need to be approved by any regulators or need any licences etc?

Is this something dealers welcome, a random knocking on their door, saying give me your price list I'll sell some cars for you.. 

When a car was sold would the dealership write me a cheque for the difference between their sale price and the price I sold to the customer?

it would be great to hear from people who are involved in this process and to hear your thoughts.

Thanks

[Rory RSC 596]

If you can sell any of my cars from my website for more than they are advertised for and deal with any comeback on them you are welcome to do so. Not only can you keep the price difference between my advertised price and the price you sell the car for I will give you £100 for each car also. 

 

 

[trade vet 702]

Nice theory-but in reality.....If you are going to borrow stock,you will need,motor trade ins cover,trade plates,credit licences,card machines,finance company agencies,web site. ....that's for starters! You will need to deal with swappers,comebacks and you will need enough money incase you have to unwind deals and do refunds.Most of all you will need knowledge otherwise you will get stitched up ! You would be better off selling The Big Issue.

[Ocsltd 133]

2 hours ago, trade vet said:

Nice theory-but in reality.....If you are going to borrow stock,you will need,motor trade ins cover,trade plates,credit licences,card machines,finance company agencies,web site. ....that's for starters! You will need to deal with swappers,comebacks and you will need enough money incase you have to unwind deals and do refunds.Most of all you will need knowledge otherwise you will get stitched up ! You would be better off selling The Big Issue.

Come on, don't be so negative, we all know flipping cars is dead easy!! In fact, I might even do a bit of property developing on the side in between selling cars..... Only on Tuesdays though, I'm always quiet on Tuesdays.... 

[andymc1973 199]

i watch 24 hours in police custody on a Tuesday

[Caleb R 0]

I did think this forum would be different to pistonheads etc and get real people who are in the trade to identify with where I am now to where you once were. Let's not have such defeatist attitudes and continually laugh and smirk at someone who wants to have a crack at something. There are people who make good money from this, who started from the same spot im in. If I thought it was going to be a free ride I wouldn't of signed up to this forum looking for advice. If I was a bum I wouldn't be in the position at 33 to quit my job, invest in property and have the opportunity to move into something I enjoy.. so if anyone is willing to say 'look it is hard work, this is what you have to do to get going the rest is upto you' then perfect. 

To be more specific I would want to avoid trade plates etc as from my experience once I get a buyer signed to buy a car, the dealer then delivers and still takes responsibility for the car if anything goes wrong. It does sound to good to be true I know but this is how the process went when I bought through a broker. And they seemed pretty well off from this arrangement as well. If you know how this works I'd be very interested to know. Thanks in advance.

[andymc1973 199]

so you want to sell a car and have no comebacks whatsover and yet still make money over and above what the trader has the car advertised for? That's why no one is taking you seriously

the fact that you are asking strangers on the internet for advice tells me its not for you, I'm not being negative, I'm stopping you from going bankrupt

[Ocsltd 133]

Just now, andymc1973 said:

so you want to sell a car and have no comebacks whatsover and yet still make money over and above what the trader has the car advertised for? That's why no one is taking you seriously

It's times like this I really wish the like button was working!!

Tell me OP, how can I make millions in the property game, without getting my hands dirty....?

[andymc1973 199]

buy low sell high, dead easy

[Ocsltd 133]

2 minutes ago, andymc1973 said:

buy low sell high, dead easy

Can it be done on Tuesdays??

[Caleb R 0]

4 minutes ago, andymc1973 said:

so you want to sell a car and have no comebacks whatsover and yet still make money over and above what the trader has the car advertised for? That's why no one is taking you seriously

the fact that you are asking strangers on the internet for advice tells me its not for you, I'm not being negative, I'm stopping you from going bankrupt

So your saying dealers don't have margin for negotiation which can then be used as my profit when sold on at the forecourt price or less.

[andymc1973 199]

margins are very tight and will not be given away, why would they? they spend millions advertising their cars

[Caleb R 0]

4 minutes ago, Ocsltd said:

It's times like this I really wish the like button was working!!

Tell me OP, how can I make millions in the property game, without getting my hands dirty....?

If you've got the capital it's pretty straight forward.. I've never touched a paint brush

1 minute ago, andymc1973 said:

margins are very tight and will not be given away, why would they? they spend millions advertising their cars

And yet cars are still sat on the forecourt.. I'm sure they wouldn't mind someone else pushing there cars to no extra cost to them. And the margins aren't that tight where they wouldn't give you a few hundred quid off

[trade vet 702]

Hi Caleb,we are all doing you a favour.Tell me a motor trade or car sales business you know who is making good money!

[Mat C 77]

As an ex PLC bod for 18 years selling and managing in prestige dealerships, brokers were the bain of my life. 

I was glad to get away from it all, please don't bring it back!

too may cooks and all that

 

[Caleb R 0]

26 minutes ago, trade vet said:

Hi Caleb,we are all doing you a favour.Tell me a motor trade or car sales business you know who is making good money!

How long were you in the trade of you don't mind me asking trade vet? How much on average would a broker make per car sold?

27 minutes ago, Mat C said:

As an ex PLC bod for 18 years selling and managing in prestige dealerships, brokers were the bain of my life. 

I was glad to get away from it all, please don't bring it back!

too may cooks and all that

 

If you don't mind me asking Mat, would you say you had high ambitions as a dealer where you wanted to push your career to the limit which would mean dealing in strenuous situations like dealing with brokers to get that one extra sale a month, or did you want as little hassle as possible and just get the pay cheque at the end of the month? I would try and find someone along the lines of the first example..

[Frankieola 22]

Gutted.... I normally have a day off on a Tuesday and go and see my mum, all this time I could have been doing a bit of property developing!!

 

[Ocsltd 133]

1 minute ago, Frankieola said:

Gutted.... I normally have a day off on a Tuesday and go and see my mum, all this time I could have been doing a bit of property developing!!

 

It's dead easy as well apparently. You just need some capital and you can make millions, you don't even have to touch as much as a paint brush!! Who knew?! 

[Caleb R 0]

3 minutes ago, Frankieola said:

Gutted.... I normally have a day off on a Tuesday and go and see my mum, all this time I could have been doing a bit of property developing!!

 

Your right Frankie, tuesdays when I pop in and see how my builder is getting on with the project. Then usually head down the high street for a coffee and a mooch...

[Caleb R 0]

19 minutes ago, Ocsltd said:

It's dead easy as well apparently. You just need some capital and you can make millions, you don't even have to touch as much as a paint brush!! Who knew?! 

Pointless comment really, you've just repeated what I said a couple of posts back... would be interesting to hear how you would go about making such hard work out of it all?

[Frankieola 22]

Ok, so my last comment was a bit flippant but I'll tell you it like it is Caleb.

I've worked in the trade for about 20 years now, it's not easy and I've not made a fortune, margins are tight and on the whole, customer expectations are through the roof.

So I, along with most of the other people on here, are not really going to fall over ourselves to help you, or indeed take you seriously when it appears you don't even know how much of a cut a broker should take.

From what you've said, it sounds like you just want to make some phone calls and take a couple of hundred quid.

Where is the added value to the customer or the dealer in that? You've only sold a car that would have sold anyway yet you want to take a cut and move on leaving the dealer to look after the customer and sort out any issues. (And there will be because I can tell you from experience that whenever people get involved in a transaction like you want to, there always are.)

If you are going to do this, Surely there should be a hint of client development, customer care and follow up and a bit more long term thinking rather than something to keep you busy whilst Fred puts the double glazing in.

I admire your positivity and don't mean to sound harsh, I just get a little hot under the collar with all these people who think selling cars is easy. 

 

[Ocsltd 133]

 

1 minute ago, Caleb R said:

Pointless comment really, you've just repeated what I said a couple of posts back... would be interesting to hear how you would go about making such hard work out of it all?

I don't do hard work, that's why I flip cars for a living! Well, not on Tuesdays. 

Roll on next Tuesday, I'm going to get up leisurely, watch an episode of Homes under the Hammer on catch up, put on my best 3 piece pin stripe suit, stroll down to my expensive barbers, for an expensive hair cut, where they use expensive products, stroll into town, get my self a skinny latte, (fairtrade obvs), then mooch on into my local property auctions and by some houses...... 

Can't wait. 

[Frankieola 22]

1 hour ago, Mat C said:

As an ex PLC bod for 18 years selling and managing in prestige dealerships, brokers were the bain of my life. 

I was glad to get away from it all, please don't bring it back!

too may cooks and all that

 

Well Mat, if we both worked a bit harder and dealt with more brokers, we could have pushed our PLC careers to the limit instead of just taking a pay cheque!!!

Who knew??!!

[Max Branning 149]

I could see the broker idea working with maybe very specialised stuff or very high end Ferrari / Bentley / Classic stuff maybe. 

A pop star or pro footballer for example who wants to buy a new car may well employ the services of someone to keep themselves anonymous and deal with the nitty gritty to actually buy the car for them, but to get set up in that position in the first place to where they trust you would be very hard i imagine.

If you could build relationships with dealers that stock this type of vehicle whereby you retain a % of the sale price maybe, a bit like an estate agent. Possibly also charging the client a fee for your services.

 

 

[trade vet 702]

1 hour ago, Caleb R said:

How long were you in the trade of you don't mind me asking trade vet? How much on average would a broker make per car sold?

If you don't mind me asking Mat, would you say you had high ambitions as a dealer where you wanted to push your career to the limit which would mean dealing in strenuous situations like dealing with brokers to get that one extra sale a month, or did you want as little hassle as possible and just get the pay cheque at the end of the month? I would try and find someone along the lines of the first example..

Hi Caleb,we are all doing you a favour.Tell me a motor trade or car sales business you know who is making good money!Excuse me Celeb,but you have not answered my question,I am asking you or anyone else who they know who is making good money in this business.I am quite prepared to divulge my experience.